Costabile
Costabile v. Natus Med. Inc.
Opinion
Lead Opinion
White, J.
Now before the Court for consideration is the motion filed by Natus Medical Incorporated ("Natus Medical"), James B. Hawkins, and Jonathan A. Kennedy (collectively, "Defendants") seeking to dismiss this securities class action. The Court has considered the parties' papers, relevant legal authority, and the record in this case, and the Court finds the motion suitable for disposition without oral argument. See N.D. Civ. L.R. 7-1(b). For the reasons set forth below, the Court HEREBY GRANTS Defendants' motion to dismiss, but will afford Plaintiff leave to amend.
BACKGROUND
Plaintiff John Costabile alleges that he purchased Natus Medical common stock at "artificially inflated" prices due to alleged misrepresentations and omissions made by Defendants regarding a supply contract between a Natus Medical subsidiary and the Venezuelan Ministry of Health. 1 Plaintiff seeks to represent a class of all individuals who purchased or acquired Natus Medical stock during the Class Period (defined as October 16, 2015 and April 3, 2016). (Dkt. No. 25, First Amended Complaint ("FAC") ¶¶ 1, 122.)
A. Natus Medical and the Supply Contract with the Venezuelan Ministry of Health.